For sale: Foyleside Shopping Centre.
FOYLESIDE Shopping Centre in Derry is up for sale.
It has gone on the market – along with Forestside Shopping Centre in Belfast – and are together worth more than £150 million.
Two of Northern Ireland’s biggest shopping centres – worth more than £150m – have gone on the market.
It is understood they were owned by US venture capital company Kildare Partners.
In 2015, Foyleside and Forestside were split from one single parent company into two firms.
In 2014, FRP Advisory was appointed to voluntarily liquidate the single company, Foyleside Ltd, before transferring it to two new companies responsible for each shopping centre.
According to accounts from 2015 for both separate businesses, their combined value is around £158m.
The centres originally belonged to John B McGuckian and Ken Cheevers respectively, better known as an industrialist and former chairman of UTV plc, and the owner of McLaughlin and Harvey, the building and civil engineering firm.
The pair retained ownership of the Foyleside and Forestside shopping centres after a sale of their retail assets in 2014.
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